CALCU LATIN G AN D IN TE RP RE TIN G CU RRE N T Y I
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CALCU LATIN G AN D IN TE RP RE TIN G CU RRE N T Y I E LD AN D Y I E LD TO M ATU RI TY. Describe and differentiate between a bond’s
(a) current yield and
(b) yield to maturity. Why are these yield measures important to the bond investor? Find the yield to maturity of a 20-
year, 9 percent, $1,000 par value bond trading at a price of $850. What’s the current yield on this bond?. LO1
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Related Book For 
PFIN
ISBN: 9781337117005,9781337516693
6th Edition
Authors: Randall Billingsley , Lawrence J. Gitman, Michael D. Joehnk
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